BitPay adds support for ApeCoin.
Blockchain payments firm BitPay, in a tweet on Friday, disclosed that it has now added support for ApeCoin as it continues to grow its crypto offerings.
“BitPay now supports ApeCoin (APE) and Euro Coin (EUROC)! App users can buy, store, swap and spend in the BitPay Wallet, plus load and spend instantly like cash via the BitPay Card,” BitPay tweeted.
BitPay now supports ApeCoin (APE) and Euro Coin (EUROC)! App users can buy, store, swap and spend in the #BitPay Wallet, plus load and spend instantly like cash via the BitPay Card. pic.twitter.com/AqEjrrVek0
— BitPay (@BitPay) August 5, 2022
ApeCoin joins only 13 other cryptocurrencies to be supported by the platform. BitPay-supported cryptocurrencies now include; Bitcoin, Bitcoin Cash, Ethereum, Wrapped Bitcoin, Dogecoin, Litecoin, Shiba Inu, ApeCoin, Euro Coin, and 5 USD-pegged stablecoins (GUSD, USDC, USDP, DAI, and BUSD).
Notably, with the new support, ApeCoin holders can now use their tokens to make payments at several retail outlets. For example, before BitPay’s official announcement, luxury fashion house Gucci on Wednesday revealed that it is now accepting payments in ApeCoin via BitPay. Consequently, ApeCoin can now be used for payments at select Gucci Stores in the US.
It is worth noting that Yuga Labs launched ApeCoin in March this year to be used for transactions on the Yuga Labs ecosystem, which currently comprises the Bored Ape Yacht Club (BAYC), the Mutant Ape Yacht Club (MAYC), the Bored Ape Kennel Club (BAKC), CryptoPunks, MEEBITS, and the Otherside metaverse.
At launch, the token was the center of a lot of market speculation, attracting the attention of several Ethereum whales and getting payment support from TIME magazine and OpenSea. However, the buzz surrounding the token appears to have waned as the crypto market downturn kicked into high gear following the Terra ecosystem debacle in May.
It is worth noting that BitPay support can usher in a new wave of adoption and increase user activity as they start to use the token to make payments to their favorite merchants.
Notably, BitPay is pushing the frontiers in terms of blockchain payments. Most recently, the firm announced that lovers of Hublot watches can now use crypto to pay for their products in its latest partnership.